The most annoying thing is that it was all so predictable.
Gordon Brown has, for ten years since he inherited a sound financial situation, been throwing money around like a drunken sailor on shore leave in Portsmouth. No provision was made by "Prudence" for the inevitable downturn in the country's fortunes. Everybody, except apparently Gordon Brown, knows that world finances are cyclical. Things will improve again ~ personally I believe we are nearly at the bottom now and for a couple of years we will bump along on the bottom and then things will look up again. The downside of that is that whoever gets in to power in 2010 will claim that any improvement is their doing when, in fact, it will be nothing of the sort.
End of serious moment.